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Global Smart Cities Market - Segmented by Solution (Smart Mobility Management, Smart Public Safety, Smart Healthcare, Smart Buildings), and Geography - Growth, Trends and Forecast (2018 - 2023)

Global Smart Cities Market - Segmented by Solution (Smart Mobility Management, Smart Public Safety, Smart Healthcare, Smart Buildings), and Geography - Growth, Trends and Forecast (2018 - 2023)

The global smart cities market was valued at 442.89 billion in 2017 and is expected to reach a value of USD 1,226.68 billion by 2023 at a CAGR of 18.22% over the forecast period (2018 - 2023). The scope of this report is limited to the type of building, such as residential, commercial, and data center, smart utilities, such as smart energy, smart grid, and smart meter among others, solution, such as smart facility management, smart public safety, smart healthcare, smart education, and smart water. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

The expanding population living in urban areas (58% by 2025), and the overall growth of urban population (81% of total population that are living in cities), are the major drivers for the adoption of intelligent and smart solutions. The main reason behind the growth of smart cities is the need for effective solution for managing the cities. Governments of various countries are expected to collaborate and partner with each other, in order to transform into a collaborative and integrated service delivery model, from the traditional silo based model. The expansion of cities and urbanization, widespread adoption of green technology, increasing telecom penetration, and rising adoption of Artificial Intelligence (AI) and Internet of Things, are the factors driving the demand for smart cities.

Internet of Things- The Driving Force Behind Smart Cities

Smart Cities and Internet of Things (IoT) are on their way to transform modern life. Smart Cities make effective use of IoT. IoT instills the required intelligence into basic building blocks of the city, and helps make it smart. In 2017, Smart Cities occupied major share in IoT. Smart Cities is expected to utilize IoT to monitor energy usage, traffic flows, and water levels etc. The effective use of IoT in Smart Cities is totally reliant on the infrastructure development, and smart supply chain.

Rising Revenue from Smart Home

Smart Home is commonly used to define a residence that has smart devices/products, such as air conditioners, televisions, computers, entertainment systems, security systems, and many more, and all the devices are able to communicate with each other, and can be controlled remotely. Devices/Products used in smart homes can be termed as standalone components, which can be connected to the internet, as part of a larger eco-system, to offer monitoring or control functions from a remote location. The smart home appliances can be controlled using a smart phone, and they provide ease of access. Technology giants, such as Apple, Google and Samsung, are entering the smart homes market with more innovative products, such as HomeKit and Brillo, and are attracting large number of consumers.

The overall demand for smart homes is forecasted to grow rapidly, owing to strong consumer interest, incremental technological innovations, and greater accessibility. Also, the rising level of disposable income has enabled consumers to opt for solutions that are more convenient. Smart homes not only enhance energy conservation using smart meters, but also have the ability to convert a home into a high-tech one, that is connected by the Internet of Things (IoT). From using cameras to sensors, ensuring the authenticity and safety, to sometimes even assessing the person’s physical conditions, as part of the healthcare services, smart homes are bringing state-of-the-art technology, and services together for a safer and convenient life. The video monitoring, proactive event notification, and the alarms that further provide increased safety and security solutions, are alluring the consumers to adopt these solutions.

Key Developments in the Market

- January 2018 - Emerson Electric Company introduced a technology to control multiple smart thermostats on single dashboard to help ensure human comfort and energy efficiency.
- December 2017 - ABB introduced 20-second flash charging technology that allows a bus to connect to a charging point and top up its batteries in less than 1 second, while passengers embark and disembark.
- December 2017 - Schneider Electric introduced EcoStruxureTM Grid in Hyderabad, India to generate higher efficiency in power generation and distribution.

Major Players -Abb Ltd., Cisco Systems Inc., Emerson Electric Company, Ibm (International Business Machines) Corporation, General Electric (Ge), And Schneider Electric Se, among others.

Reasons to Purchase the Report

- Current and future of Global Smart Cities Market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identifying the latest developments, market shares and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs

1. Introduction
1.1 Scope of Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Study Deliverables   
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases  
3. Market Insights
3.1 Market Overview
3.2 Industry Attractiveness - Porter's Five Forces Analysis   
3.2.1 Bargaining Power of Suppliers  
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants  
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry  
3.3 Industry Value Chain Analysis
4. Market Dynamics  
4.1 Introduction to Market Dynamics
4.2 Market Drivers
 4.2.1 Rapidly Growing Urban Population
 4.2.2 Inclination Towards Adopting Green Technology
 4.2.3 Rising Adoption of Artificial Intelligence (AI) and Internet of Things (IoT)
4.3Market Restraints
 4.3.1 Security Concerns Related to IoT and Smart Devices
 4.3.2 Higher Cost of Refurbishment of Old Buildings
5. Segmentation by Solution
5.1 Smart Mobility   
5.2 Smart Public Safety
5.3 Smart Healthcare
5.4 Smart Buildings
5.5 Smart Utilities
5.6 Smart Security   
5.7 Smart Education
5.8 Other Solutions
6. Segmentation by Region   
6.1 North America   
6.1.1 United States  
6.1.2 Canada  
6.2 Europe  
6.2.1 United Kingdom
6.2.2 Germany   
6.2.3 France
6.2.4 Sweden
6.2.5 Rest of Europe
6.3 Asia Pacific  
6.3.1 China  
6.3.2 Japan
6.3.3 India   
6.3.4 South Korea
6.3.5 Australia   
6.3.6 Rest of Asia-Pacific (APAC)
6.4 Latin America
6.4.1 Mexico
6.4.2 Brazil  
6.4.3 Argentina
6.4.4 Rest of Latin America  
6.5 Middle East and Africa
6.5.1 Saudi Arabia
6.5.2 United Arab Emirate
6.5.3 South Africa
6.5.2 Rest ofMiddle East & Africa
7. Competitive Intelligence - Key Vendor Profiles
7.1 ABB Ltd
7.2 Cisco Systems Inc.   
7.3 Emerson Electric Co.
7.4 IBM Corporation  
7.5 Ericsson Inc.
7.6 Schneider Electric SE
7.7 General Electric Co.  
7.8 Siemens AG
7.9 Huawei Technologies Co. Ltd
7.10 Honeywell International Inc.
7.11 Hitachi Ltd  
7.12 Nokia Corporation
7.13 Koninklijke Philips NV   
8. Investment Analysis
9. Future of the Market  

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